Zacks Investment Research cut shares of Burlington Stores, Inc. (NYSE:BURL) from a buy rating to a hold rating in a report issued on Tuesday.
According to Zacks, “In an intensely competitive retail landscape, Burlington Stores has made multiple changes to its business model to adapt to the ongoing changes in the industry. The strategic initiatives have aided the company to continue register growth in both the top and bottom lines, which in turn has helped the stock to outpace the industry in a year. Management is confident about posting year-over-year increase in both the top and bottom lines in fiscal 2017. The company now envisions adjusted earnings in the range of $4.11-$4.18 per share up from $3.24 reported in the prior year. Notably, over the years the company has increased vendor counts, made technological advancements, initiated better marketing approach and focused on localized assortments. These along with effective inventory management and cost containment efforts have helped elevate gross margin. Of late, estimates have increased ahead of the third quarter results.”
BURL has been the subject of a number of other research reports. Deutsche Bank AG started coverage on shares of Burlington Stores in a research note on Thursday, September 14th. They set a buy rating and a $108.00 price target for the company. Buckingham Research restated a buy rating and issued a $107.00 target price on shares of Burlington Stores in a research note on Thursday, October 19th. SunTrust Banks, Inc. set a $109.00 target price on shares of Burlington Stores and gave the stock a buy rating in a research note on Monday, October 16th. BidaskClub cut shares of Burlington Stores from a hold rating to a sell rating in a research note on Tuesday, October 17th. Finally, Cowen and Company set a $105.00 target price on shares of Burlington Stores and gave the stock a buy rating in a research note on Wednesday, November 1st. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $105.96.
Shares of Burlington Stores (NYSE:BURL) opened at $104.73 on Tuesday. The firm has a market cap of $6,910.00, a price-to-earnings ratio of 26.10, a P/E/G ratio of 1.32 and a beta of 0.51. The company has a debt-to-equity ratio of -13.31, a quick ratio of 0.24 and a current ratio of 1.03. Burlington Stores has a 52 week low of $74.01 and a 52 week high of $104.84.
Burlington Stores (NYSE:BURL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.22. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Burlington Stores had a net margin of 4.46% and a negative return on equity of 330.30%. Burlington Stores’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. analysts forecast that Burlington Stores will post 4.24 earnings per share for the current year.
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Burlington Stores declared that its Board of Directors has initiated a share buyback plan on Thursday, August 24th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Burlington Stores news, CEO Thomas Kingsbury sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $87.81, for a total transaction of $1,756,200.00. Following the completion of the transaction, the chief executive officer now directly owns 495,308 shares in the company, valued at approximately $43,492,995.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marc Katz sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $87.25, for a total transaction of $959,750.00. Following the transaction, the chief financial officer now owns 124,555 shares of the company’s stock, valued at $10,867,423.75. The disclosure for this sale can be found here. Insiders sold a total of 87,922 shares of company stock valued at $8,052,750 in the last quarter. Insiders own 2.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Davidson Kempner Capital Management LP purchased a new position in Burlington Stores during the 3rd quarter valued at about $21,479,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Burlington Stores by 44.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,878 shares of the company’s stock valued at $276,000 after acquiring an additional 886 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in Burlington Stores by 84.4% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 18,648 shares of the company’s stock valued at $1,780,000 after acquiring an additional 8,535 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Burlington Stores by 13.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 142,600 shares of the company’s stock valued at $13,613,000 after acquiring an additional 16,800 shares in the last quarter. Finally, Highbridge Capital Management LLC increased its holdings in Burlington Stores by 104.0% during the 3rd quarter. Highbridge Capital Management LLC now owns 206,420 shares of the company’s stock valued at $19,706,000 after acquiring an additional 105,236 shares in the last quarter.
Burlington Stores Company Profile
Burlington Stores, Inc is a retailer of branded apparel. As of January 28, 2017, the Company operated 592 retail stores, inclusive of an Internet store, in 45 states and Puerto Rico. Its product categories include coats, women, men, juniors, girls, boys, shoes, handbags and accessories, beauty and fragrance, home and toys.
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